Excluding one-time items, the Melbourne-based company reported profit of A$494.9m for the 12 months ended 30 June, down 9% from a year earlier.

Australian beer sales fell 6% for the year, in part due to economic uncertainty and severe weather, including a cyclone and major flooding in the country's north east earlier this year, the brewer said.

"Foster's expects that the rate of decline in the Australian beer category will moderate in the first half of fiscal 2012," it said in a statement.